No, but most people who use social media aren't schoolchildren. I have a niece and nephew who are school age and they seem to be doing fine. Certainly better than people here insist they must.

And I don't think believing social media provides some practical value for people beyond addiction is "very idealized."

edit: I remember a very different past than you do. People of all ages watched tv for hours at a time, everyone was captivated. Saturday morning cartoons (all of which were toy commercials) were a mandatory childhood ritual. And the ads when popular were often the memes of their time. Different in structure but not much different in influence.